Friday, 27 July 2012

Payday Budgets!!!

Well hello Beans,

I trust you are enjoying your day I am! I'VE BEEN PAID! Finally got all the money for my deposit and rent for the house massive weight has jsut lifted off my shoulders! Even better i have a little left over for me too.
Out of my gang of friends back home I'm the only one at university. So with them all in full-time jobs and me with my meesly 8hr part-time work its sometimes difficult to keep up. But my word is it do-able! Difficult but do-able. All you need to do is make sure you've got a really good budget in place

Here are my 5 top ten tips for Payday Budgeting

1. Tommorow, tommorow, i'll do it, tommorow!
No you won't. You know how i know that. Cause i wouldn't. You waon't do it the next day or the one after that and then eventually you'll say 'oh, next month'. Despite my continuing attempts to have procrastination named an olympic sport, budgeting is not the appropriate time to divulge in such an activity.
So get to it. Now!!

2. Honesty is always the best policy
Theres no point lying to yourself about your financees (you'll know). Trying to kidd yourself that you don't have an over draf, or that at the end of the month you'll pay this that and the other off isn't going to help. Be realistic with yourself. Work out your figures and write it down in big letters and put them up. Wheather its your phone bill, your water bill or perhaps how much you spent on booze last month. Be realistic.

3. Get Calculating.
Write down every incoming bit of money you have for month on one side of a coloumn and on the other your outgoings you have to buy. Food, rent, bills, phone bill are just a few examples. Be honest with yourself to, if your a smoker budget your smokling but dont be unrealistic and make sweeping statements like im not guina smoke (cause it probably won't happen). Then you can see what your left with. I like to divide that figures into weeks and then i can see how much i have for the whole week.

3. Every penny counts!
This is something i got my friend whos about to be a fresher to do. once you've work out what you've got coming in every month and out every month get yourself some pennies. 1 p for every pound and fill up a jar. Every time you spend a pound you put a penny into the out goings jar. This emans you have a visual representation of your finances. If your not mathmatically minded it really helps to see your earnings too and see when your budgeting how your money divides up. Sometimes you dont realise how much you've spent on absoulte shit!

5. Work hard. Play Harder
What really makes budgeting worth it to me is not have that paniccy feeling at the end of the month thinking where the hell am i guna find money for food or rent. If you can plan your spending, you'll find the more you budget the niftier ways you'll make your money last longer. This means when you do want a little splurdge your able to do it without that guilt hanging over you

Happy Budgeting Beans

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